Louisbourg Investments Inc. Raises Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Louisbourg Investments Inc. lifted its holdings in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 3,312.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,552 shares of the financial services provider's stock after purchasing an additional 48,100 shares during the quarter. Louisbourg Investments Inc.'s holdings in Brookfield Asset Management were worth $2,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Focus Financial Network Inc. purchased a new position in Brookfield Asset Management during the fourth quarter worth $229,000. Wilmington Savings Fund Society FSB boosted its stake in Brookfield Asset Management by 38.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,094 shares of the financial services provider's stock worth $330,000 after buying an additional 1,680 shares during the period. Choreo LLC boosted its stake in Brookfield Asset Management by 96.9% during the fourth quarter. Choreo LLC now owns 10,087 shares of the financial services provider's stock worth $551,000 after buying an additional 4,964 shares during the period. Tandem Capital Management Corp ADV boosted its stake in Brookfield Asset Management by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock worth $2,119,000 after buying an additional 175 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new position in Brookfield Asset Management during the fourth quarter worth $477,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD Securities lifted their price objective on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Scotiabank lowered their target price on shares of Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating for the company in a research note on Thursday. Keefe, Bruyette & Woods lowered their target price on shares of Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating for the company in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group boosted their target price on shares of Brookfield Asset Management from $57.00 to $63.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $56.71.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock traded up $2.29 during trading hours on Friday, reaching $59.86. The stock had a trading volume of 1,928,737 shares, compared to its average volume of 1,329,742. The company has a market cap of $26.53 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 2.18 and a beta of 1.46. The business's 50 day moving average price is $56.45 and its 200-day moving average price is $51.06. Brookfield Asset Management Ltd. has a 52 week low of $37.29 and a 52 week high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.45 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.92%. Brookfield Asset Management's payout ratio is presently 134.51%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.